2012-11-12
2012-11-20
x boehner

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English 60

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worked for ronald reagan. what you want, you should tax. what you don't want as a society, what you don't want is a society, rather, you should tax and what you do want you should subsidize. my god, if there's anything we should be subsidizing, it's medical devices and research and medicine and science. and here is the administration coming with a 2.3% tax on companies, many of which are not profitable. shannon: yeah. and that's just one of many, many taxes tucked into the bill, but, of course, more than 3,000 pages and most members of congress admitted they didn't read it. it's good to see you, thank you so much for weighing in. >>> the resignation of the nation's spy chief has the pentagon releasing its version of events of the terror attacks in libya that left four americans dead. we're going to show you that timeline. and what looks like a joke is growing bigger. [ male announcer ] when was the last time something made your jaw drop? campbell's has 24 new soups that will make it drop over, and over again. ♪ from jammin' jerk chicken, to creamy gouda bisque. see what's new from cam

the roll. quorum call: quorum call: >> administrator, thank you for being here at ronald reagan national airport. as we look at the holidays fast approaching, thanksgiving next week, we're anticipating a busy travel season again, and the men and women of tsa are standing at the ready to provide the most effective security in the most effective way. as you know, that creates challenges and opportunities for the traveling public, quorum call: a senator: mr. president? the presiding officer: the senator from colorado. mr. udall: mr. president, we're in a quorum call, is that correct? the presiding officer: the senator is correct. mr. udall: i ask unanimous consent the quorum call be lifted. the presiding officer: without objection. mr. udall: mr. president, i ask unanimous consent the senate proceed to a period of morning business with senators permitted to speak therein for up to ten minutes each. the presiding officer: without objection. mr. udall: mr. president, i ask the chair lay before the senate a message from the house with respect to s. 743. the presiding officer: the clerk will re

that welcomes and that celebrates legal immigrants. ronald reagan famously called legal immigrants americans by choice. and we need to celebrate that story of those who risk everything seeking freedom because that's what makes our country strong. >> don't we have to make policy changes, too? it isn't just for politics. i believe immigrants come here to work, not just for welfare. i happen to believe they smart small business. i think you mentioned that. they're good entrepreneurial people that help grow our economy. but we need to give them worker permits, bring them out of the shadows, give them a path to citizenship. leaders like yourself, an an american-cuban-hispanic. you've got to get out there and make this case, you and marco rube yoe a rubio, go back and make the case to the hispanic community. >> larry, i think we should remain and welcome and embrace legal immigrants. at the same time, we've got to continue to respect rule of law and not adopt policies that are unfair for the millions of people who have been waiting years and sometimes decades to come into this country legally. rul

she would be younger than ronald reagan was when he became president. >> as appealing as jeb bush would be as a candidate, i think hillary has an advantage here because so many women, republicans as well, would love to vote for hillary clinton, put her as the first lady in the white house. >> i spent the last year in an election and refused to answer that question. [laughter] >> hillary clinton made a lot of friends as secretary of state. some of them were republicans, not traditional fans of clinton. jeb bush is a very likable candidate. but i'd guess that hillary is really -- she works hard at this nomination, she can unify the party big-time and i bet she'll have obama supporting her. chris: and especially if the economy is good the next four years. thanks for the great round table. that's the show. thanks for watching and don't forget that the victims of hurricane sandy are really hurting right now. especially after that new york, new jersey area. these tragedies hurting real families like yours. give them a lift. go to the red cross website. we'll see you back here next week.

of value for what i pay. >> bill: they say we're doing this in the legacy of ronald reagan. bull you know what. ronald reagan raised taxes five times. >> reagan would have no place in the current republican party given some of the things they did. grover norquist holds him up as an icon. grover is in a completely different place than he is on taxes. >> bill: why don't the media expose these people as the liars and hypocrites that they are? >> because they're fair and balanced. >> bill: so are we going over the fiscal cliff? >> i think we are. i think we are. for a couple of reasons. one, there's not a whole lot of time. it is six weeks from tomorrow to the start -- >> bill: they don't have any backbone. >> that's number two. number three 80 lame ducks who may not show up to vote. plus you've got this stale -- continuing stalemate on tax and spending policies and then on top of everything else, it is not really a fiscal cliff. it is a fiscal slope. it stays in place. they called it a cliff but the damage to

to ronald reagan. what did we do? we nominated michael dukakis who is a fine man but a liberal from massachusetts. it took three beatings for to us realize you have to make common cause of moderates. that is the internal struggle the republican have to go through. true to principle on fiscal issues but if they embrace the far right social agenda it drives off the young people and alienate single women and suburban women and you see it in the numbers. >> senator, in your state of indiana -- >> can i say one last thing? if i could just get -- if i could say one last thing. please continue to nominate people for public office talking about women being rap rapeed. >> won by only five points such a bad year. republicans should not kid themselves. republican lost 25 of 33 senate seats. republicans gained back the seats easy to gain back when no other new state at the presidential level. obama had a tough economy, glow gone from the first term, and all of that. republicans lost the national household by half a million votes. they held the house to redistricting and the democratic voters ar

goal, like ronald reagan used to do, i want one headline, don't let the middle class be held hostage. he repeated it over and over again. >> reporter: he said it 19 times. >> he didn't want the headline to be switched by adversarial press or neutral press that didn't to want go with his line to say him, adamant, president adamant on rich paying 39.6%. maybe that's why you softened up to you. just an interpretation. >> reporter: i can tell you congressional republicans were happy with his response. they like to know there is some give. here's where the give could be, chris. nobody's talked about this. i mean, there's been some behind the scenes chatter on this, which is you could see tax rates temporarily go up just not all the way to 39%. it could be somewhere in the middle. ends up being the compromise for the one year. don't forget, this is all about setting the tax rates simply for 2013, while they negotiate larger tax reform. so, that could be what the wiggle room is. obviously, republicans have said they don't want to raise tax rates at all. they're fine with revenue. and the pr

you a position and ronald reagan negotiated this way beautifulliy multiple times. boehner has to say this guy is crazy he will take us over the cliff and we have the worst possible case, we have to cut that deal. the deal at best is going to get half the republicans and a little more than haf the democrats. the president has to make sure he keeps his democrats in the tent because they are not going to be happy with some of the elements of change and we have seen a coalition of labor and liberals saying no way. >> so, in the nitty-gritty before we get to entitlements. what if -- would it be better if we increase taxes on a larger group of people everybody making over 250,000 by a smaller amount or increasing taxes on a smaller group making more than a million and go up to 39.6%. what is more likely to happen? >> it's more likely to be the former than the latter. i must tell you jennifer, i don't much care, you have to get that revenue target. the president said 1.6 trillion. you probably end up compromising at 1.2 trillio

ago. >> social security, number one thing, we should create process like with ronald reagan. i think we should look at early retirement age and social security, which is currently 62, and look at ways to great incentives for people to work longer. create incentives for people to work longer. the retirement -- that has the joint beneficial effect of reducing social security costs, but also keeping people working longer, providing for their families and generating more income for the economy and for the treasury. i think there are other things you can do, but look, i am open to a conversation about this. when it comes to things like social security, again, you have got to take a mixed approach. look at simpson-bowles or others, they have a combination of revenue and spending reform. >> you are willing to at least look at that? >> i am willing to consider them as part of a possible plan, but i do not think we should jump to solutions, especially in medicare, that's simply transfer cost. in social security there are other ideas, some of which we discussed in the super committee. >> socia

. democrats had lost two elections in a row to ronald reagan. and what did we do? nominated michael dukakis, a fine man but a liberal from massachusetts and the internal struggle republicans will go through, they have to be true to their principles, particularly on economic and fiscal issues but when they embrace the far right social agenda it drives off young people and it does alienate single women and suburban women... >> senator, i mean, your state -- >> what i'm saying -- >> republican governor. >> chris: wait, wait, wait. >> one last thing, please continue to nominate people for public office who talk about women being raped and that being god's will. >>... actually a great -- won by only five points, and republicans should not kid themselves, they lost 25 to 33 senate seats and republicans gained back the two states easy to gain back and no other new state at the presidential level and obama had a tough economy and, the glow was gone from the first temrm and republicans los the national house, and redistricting and democratic voters are more concentrated in more districts, it was a b

won. you know, since ronald reagan we no longer have 70% tax rates on the highest income earners. nobody is arguing for that. we're arguing to go back to 39.6%. on health care reform, the president's health care reform was basically a conservative idea put into the national spotlight by democrats and passed by democrats. education reform. even cap and trade is really a republican approach to solving environmental problems. we no longer have anyone saying we don't need to balance the budget. in a lot of ways these conservative ideas have won the day. so republicans are in a place where they moved further and further to the right as the democratic party has amoved further and further to the right. now they're out in the mainstream, and in order to have a meaningful, stark contrast with democrats, they've gone to such a far right place that the american people just aren't comfortable with what they propose. >> i'm encouraged by some of the language i heard coming from some folks on the right. there's still people in conservative circles who are saying we can't compromise our values.

president since ronald reagan to win the popular vote in two consecutive elections. they're trying to deny his legitimacy still. >> not all. >> grover norquist is. >> and speaker boehner has said they're ready to be led. >> thank god for one reasonable person. >> he says he's the most reasonable. >> we'll see what happens in january, though. he has that radical right wing tea party caucus to deal with in the house. i want to see them come to grips with reality. >> great pleasure having you both on. as people continue to suffer in the wake of hurricane sandy, thousands are homeless and without power. the american red cross is trying to push back against criticism from storm victims. >> they take people's hard-working money to assist people, and then when push comes to shove, they don't assist. >> so the red cross is not disputing that, but also calls its response, quote, flawless. many of the people you're looking at in that video do not believe the response has been flawless. we'll talk with nbc news senior investigative correspondent lisa myers regarding the red cross backlash that's goin

needed to talk about the jack kemp conservativeism and ronald reagan and larry kudlow conservatism of economic growth of prosperity of bringing people in. reagan that did the big apple nesty in 1988. >> exactly. '86. >> i stand correct. >> we didn't call it amnesty. everybody knew what it was. basically the idea was that, you know, would buy time and buy 20 years. you are not against border security. what do we do with the good folks here now? >> we need that. border security -- in a post-9/11 age, border security is the first priority. >> right. but after that, we immediate to deal with the situation. you know, the -- the so-called illegals, some people don't like calling them that, undocumented individuals, they struggle to get here. they want to be part of the system. they want to earn a living. i don't know if immigrants that come here, legal or illegal, that want to come and go on welfare. they want to work and become part of the system. they want to share in the great american dream. these are republican values. and -- the fact when you look at the exit polls, 70% of asians a

former california governor ronald reagan announced his third bid for the presidency and for the republican nomination and, of course, that one was successful. >>> the scandal continues to grow around david tpetraeus as his successor general john allen is now linked to the controversy or at least linked to some of the players. let's bring in our panel, political director for the grio.com, and columnist with bloomberg view, and stephanie is the president of emily's list and i also have james from the national journal who is out with a brand-new piece on this entire episode. so, james, i want to start with you because i thought this was a very striking -- you sort of write about -- trying to write about this from 30,000 feet, the impact on national security. this is what you write, no one is condoning what petraeus did, but there are a lot of self-righteous people holding him to a standard that not many people could meet without considering what he sacrificed because of the years of separation from his spouse and family, said one army general. there's a lack of proporti

was it, 1982 or 1983, back in the 1980's, tip o'neill and ronald reagan got together and made adjustments to social security that saved the program. that's my point. sometimes you need to adjust and change to save the very thing you care most about. and so tip o'neill didn't sell out the democratic party by embracing that agreement. the democrats in congress, many of them very progressive at that time who supported it, didn't work traders to the party. if we do it in a responsible way, a balanced and doesn't just gut the programs and just not all entitlement reform with no revenue, i think the base of the party and leaders and organized labor will understand. they also know the alternative is doing nothing, with bad damage to jobs and the economy. and ultimately insolvency of these programs themselves, or. b, the right wing of the republicans are coming in and taking over because we have done nothing to solve the problem and their answer to the solution would be much more draconian. host: jack. he's our first phone call for the senator. republican. go ahead. caller: mr. bayh, one question

. in the last 100 years, only four, right. so eisenhower, fdr, ronald reagan and barack obama. i think the idea that barack obama does not have a historic mandate when 44 men have been president and seven did what he did in two terms, he got 69 million votes the first time, 62 million votes the second time, i think he has a mandate. the things to be done that are great in this election happened to fall on the progressive side, in part because the republican party and conservatism has gone so far right things that used to be centrist, like environmentalism, which was a teddy roosevelt thing which even richard nixon was in favor of. >> john mccain. >> newt gingrich. >> these things have been now reclassed as liberal, right. the victories that the president has a chance to get which are historic, like on climate change, on immigration, are now progressive ideas because they've been left behind. >> it's now almost up to the republican party to grab a piece of that pie to say this is our victory too when in reality if they had done it earlier -- >> let's don't get in debate about the mandate. you ma

bernie sanders addressed very effectively. it was interesting he quoted ronald reagan on the floor yesterday to point out social security has nothing to do with the deficit or balancing budgets, payroll tax that employers and employees pay into the trust fund that finances that and it should not even be discussed in these negotiations. but furthermore, this whole election, this whole national election was a referendum on the republic republicans' ideas expressed so well by mitt romney by the way yesterday afternoon when he talked about with such contempt for people who might need college loans, or health care, god forbid. and, you know, this election showed americans are completely opposed to the proposed reforms by the republicans on medicare and social security. they don't want entitlements changed or touched. and they want to see the top 2% pay some taxes. like they did in the clinton era. so if their elected representatives come in and within a week they're talking about changing entitlements and not raising taxes on the very rich, it's not just liberals who will be disappointe

reasons, yes, because they expanded the earned income tax credit as ronald reagan did because they thought it was an effective anti-poverty program. >> congressman becerra, let me go to you on this. >> it's deja vu all over again. >> what are republicans doing to attract those certain members of the base? >> i don't think they read the tea leaves from november the 6th and i think they're still harkening to yesteryear. it's a new day in america and they should be catching up. he is the de facto leader of the party, mitt romney is still there, and so his comments remind folks of the 47% comment and it's unfortunate for them because they have to figure out a way to distance themselves from a guy who doesn't get it. >> i have to say he is not the de facto leader of the republican party. i think what this did was hasten romney's departure completely from the scene. romney has -- i mean i talked to republicans now. they talk about how you'll never see him speak at a convention again. people aren't going to be going to his door begging for his endorsement. that's a great question. >> de facto lea

debate. president carter had one debate in 1980. ronald reagan decisively won that. we did not want to continue that sad and torn history. it is not like we were naiive about the challenge. for a lot of reasons, not all of them, you know we did not execute. strategicly, myself and others could have done a better job. the president said that he had an off night. it is not like we had one glaring mistake. but not a solid performance. governor romney had a strong performance and we knew that. even when he took a flyer against ted kennedy. he dominated the debate performance. we knew it was a strength of governor romney. just showing up on the stage and, you know, he was going to come out of the debate like that. we knew that. he was too low. romney is always go to get 47 and 48 and 49 in states like virginia and florida and virginia. we were not go to win the first debate. he was the only person on that stage that had something to gain out of the first debate. but obviously we had a poor performance and he had a very strong performance. we said it publicly and most did not believe at t

countries have transformed, reform, lower the rates. we haven't touched it since ronald reagan in 1986. bill clinton did raise it at one point but we haven't done anything to touch the rate and reform -- tecum from 16.5% to 15% which most of you are aware of because you do business there, and this capital investment is going to follow countries that have a more competitive environment in taxes is one of them's a we have to reform the tax code and when you do that you will get more revenue. it's guaranteed. again, as i was talking at earlier there are opportunities here for us as a country and if you look at the congressional budget analysts this and go to the tax committee analysis what tax reform could mean in the economic growth and all of them will lead to more growth with this corporate tax reform. estimate of the president says what he did last friday, this was fought over in the campaign and we fought over rising tax rates. jay carney said they would veto any bill that extends the current tax rate so if he insists that tax rates go out for those making over to under $50,000 will would

by finding common ground with the other side. ronald reagan did it with a democratic house after a resounding second term victory. as did bill clinton with the republican controlled house and republican controlled senate after a more resounding second term victory then president obama. both examples, both of them, illustrate the rare opportunity that divided government presents. president obama can follow suit or he can take the extremist view that both reagan and clinton rejected by founding his nose at the other side and insisting that if republicans are not willing to do things his way he will not do anything at all. if the president is serious, he will follow the lead of president reagan and clinton. if he is really serious, he will put the campaign rhetoric aside, propose a realistic resolution that can pass a republican controlled house and a divided senate, and work to get it done. if the president acts in this spirit, i have no doubt he will have the support of his own party and a willing partner in hours. the american people will criticize of relief knowing not only that we have avoi

's policy with ronald reagan. what advice would you give the president. guest: i would say three things. mr. president you won, be strong and mr. president go for broke. deal from strength. you're never going to have to run for reelection so go to the wall on every issue you believe in. host: including entitlement and social security. guest: i don't know what you mean by entitlement reform if you mean fixing them that's what president obama believes, yes, yes yes. and i would say there were some issues in the first term where i was disappointed. let's take climate change president obama didn't go up to congress and fight for a strong bill. now the white house will tell you we didn't do it because we didn't have the votes. to me that's giving up before you fight the fight. i think on climate change and immigration reform and entitlement reform on this fiscal cliff on the tax break for 98% of meshes, on a balanced approach to fixing our fiscal crisis the president has to go up there and fight every fight. have steel in his backbone this time and i think he'll have a legendary second four year

that divided government sometimes has done very important things for the country. think of ronald reagan and tip o'neill reforming social security. ronald reagan and tip o'neill doing the last comprehensive tax reform. bill clinton and republican congress doing welfare reform and balancing the budget. we look forward to making this divided government productive for the american people. and we have, of course, as everyone well knows, a lot of challenges here at the end of the year. i'll be meeting with the president and the other leadership on friday to talk about the way forward. and we look forward to being a part of the solution to these significant problems. it's my plesh shoe now to turn to our newly elected whip, senator john cornyn of texas. >> thanks, mitch. it's an honor to be elected by my colleagues to serve as the whip. the assistant leader on the republican side. as leader mcconnell said, we have a lot of very difficult work to do, but we are committed to working with our colleagues across the aisle to solving the nation's urgent problems. we know what those are in the lame d

of course was a economic adviser to president ronald reagan, and then has commented on these issues and read about these issues and donald is the director of the urban brookings tax policy center and former acting director of the congressional budget office as well. so we have three experts to talk about these issues and walk us through this minefield of tax policy and see where there might be common ground where the conversations of the white house could be ending up. peter, let me start with you. and the basic question about whether or not tax revenue has to be a part of this part of the conversation to begin with and whether the two sides were there is more common ground than they think. >> first obviously i think the tax revenue has to be part of the solution here both because the underlying budget but also because the election that was just held and the desire and the administration to maintain that additional revenue that they ran on and they won. on the substance though the point that i would make this would ever comes out of this fiscal cliff frankly i am now going to step out of the

to make a comment about this benghazi thing. republicans have made such a big deal out of it. ronald reagan sent over 200 marines to their death and there was no public outrage. where is the republican outrage? only because of obama do we get this kind of reaction. thank you. host: edward, from miami, florida, this morning. another editorial, from being west, former infantryman. host: that is from the former assistant secretary of defense. we're taking your calls on this issue. b.j., good morning. caller: good morning. my question is, who is joe kelly? why would brought well be sending her threatening e-mails? -- broadwell be sending her a threat in e-mails? host: do you think the senate needs to hold a hearing on this? caller: absolutely. i look forward to his testimony under oath this time, rather than giving the cock and bull story from before. it is all because of the video tape. now he cannot be blackmailed by anyone. host: joe kelly is described as a 37-year-old social liaison at the air force base in tampa. host: did he have an affair with her? is that when he was so upset? --

george bush was for september 11 or that ronald reagan was with the blowing up of the u.s. marine in beirut. >> brian: was there conflict -- put it this way, let's compare what george bush did, the administration knew and what we found out on 9-11 compared to what we fine out in 9-11, 2012. within 24 hours we knew who did it. within a week or so we found out we were mobilizing against it. no one was in conflict about who did the crime. no one said this was an internal attack, the towers fell down by themselves or an outrageous protest about our middle east policy. there was a movement together to get answers together where you had a movement that was totally fractured and a president who wouldn't answer any questions before the campaign. >> eric: let's take a couple months back, this was september 10, september 9, 8. remember we were talking president obama campaigning, instead of staying in the oval office getting intel briefings. remember, he houston, texas been to an intel briefing in months. everyone said don't worry action he'll get it on air force one or wherever he is. no.

's just that second terms have become synonymous with scandal. richard nixon's second term. ronald reagan's second term. my heart and my best intentions still tell me that's true, but the facts and the evidence tell me it is not. >> the iran contra affair. bill clinton. >> i did not have sexual relations with that woman. impeached after the lewinsky mess. . that's trouble for roughly 100% of reelected presidents since 1972. enough to give you second thoughts about that second term. so, is there anything the obama team can do to prevent this? now, as bill clinton might say -- >> it depends upon what the meaning of the word is. >> the fact is, if there is going to be a second term scandal, it's seeds were probably sewn in the first term. the watergate break in, nixon's first term -- >> if the obama team was going to mess up, history suggests they already did. maybe it's something that has made headlines already, but maybe not, the lewinsky scandal didn't surface in 1998, maybe the obama administration will make it's own history and avoid a second term scandal. if not, disney world will seem

possession. that was one of the solar panels that jimmy carter put on the white house in 1979 and ronald reagan took down in 1985 because he wanted manlier forms of energy. it's not that we lack -- germ and china have better technology. >> that and put it in his private museum in china? i love that story. >> we have the technology. we have the entrepreneurs. we just don't have the political will to do anything with it because we've got the koch brothers and exxon and everybody else in the way. >> we also have a reflexive ideological resistance to government playing a big role. i actually talked to mitt romney's policy director a few weeks before the election. i asked him, you know, what do you think government can do to make coal cleaner, carbon capturing sequestration by doesn't exist on a usable scale. he said i don't think government should play a role at all. there you go. there's the barrier. >> government should play no role except tonight provide massive subsidies to the fossil fuel industry decade after decade. >> can the subsidy for cleaner coal. >> this is where the tax extende

raised taxes and made surgical cuts notice government services. back in 1982, even the gop hero ronald reagan instituted one of the largest tax increases in modern american history. what's going on? i this i it comes down to one important word, than word actually isn't taxes. it's power. here at the fiscal cliff base camp are the same players in the same chairs, the same issues as 2011 but man, the power dynamics have changed. if last year the name of the game was hold the line, this year the opening salvos are more about let's get things done. here is house speaker john boehner yesterday after meeting with the president. >> i believe that the framework that i've outlined in our meeting today is consistent with the president's call for a fair and balanced approach. to show our seriousness, we've put revenue on the table. >> now, in politics, much of power is about perception. in a post re-election 2012, perceptions are mighty different. here's the president at his first post re-election press conference on wednesday. >> if there was one thing that everybody understood was a big differe

's a kind of big confusion here because the classic republican economic vision and the ronald reagan vision and even the dynamic republican revolution vision that you were a part of was really centering on small business and the idea that small business is the idea that creates 75% of the country and it's this dynamic force. people fail, people succeed. things happen and small business is the engine of creation. and there was big business and small business. >> and of course the secret, something all republicans opp e oppose, someone uses regulation as a weapon against other businesses and gets things pass that had are helpful to their specific corporation but harmful to competitors whereas small businesses experience the ownerousness of regulation without a lot of the benefits. this is always a problem that the republican party became affiliated or associated. i think in some large senses wrongly with big business sense. helpful to the obama administration. signed on to obama care. what happened with two of the biggest corporations in the country. too broad of a stroke. we're against regu

expect over the next few weeks. >> good morning, and i begin john -- ronald reagan national airport. as we look at the holiday fast approaching thanksgiving next week, we're apt -- anticipating a busy travel season and men and women of tsa are standing ready to provide the most effective security in the most efficient way. we are anticipating over 24 million passengers traveling during the thanks giving holiday period. as you know, that create challenges and opportunities for the traveling public. especially those who travel infrequent i are. part of the reason is to encourage the infrequent travelers to visit the tsa website to understands the screening security process that will help the others in line deal with the longers lines as we usually see. it's been a busy and productive year for tsa as we focus on developing and testing and implementing a number of what we call risk-based security initiatives. things that are enables us to provide the most effective security and efficient way. risk-based security or rbs in the passenger screening context allows the tso two of whom you wi

like ronald reagan, i'm not sure you can do that again. some of those policies were probably responsible for what happened in the '80s. those aren't going to happen this time. >> no, in the '90s, you mean. >> no, in the '80s. if jimmy carter had been reelected i'm not sure we would've had a great period in the 1980s. i'm not sure it's our birthright to have another great -- >> well, that was the whole thing. >> mike's not going anywhere. we're going to continue our conversation with him. up next, though, stocks you need to have in your portfolio for 2013 regardless of whether the economy spirals off the fiscal cliff. that means growth companies with lots of cash to buy back stock. the details on that next. but first, take a look at shares of abercrombie today. earnings sharply better than the street forecast. a & f raising guidance, stock trading higher on that news. and michael jeffries, the ceo of that company, got that airplane. what's the song they play on the airplane? it says "take me home"? take a look at futures this morning, s&p 500 looks like it'll open up about six

examples of presidents who solved big problems by finding common ground with the other side. ronald reagan did it with a democratic-led house after a far more resounding second-term victory than president obama's, as did bill clinton, with a republican-controlled house and a republican-controlled senate after a more resounding second-term victory than president obama. both examples -- both of them -- illustrate the rare opportunity that divided government presents. president obama can follow suit or he can take the extremist view that both reagan and clinton rejected, by thumbing his nose at the other side and insisting that if republicans aren't willing to do things his way, he won't do anything at all. now, if the president's serious, he'll follow the leads of president reagan and clinton. if he's really serious, he'll put the campaign rhetoric aside, propose a realistic solution that can pass a republican-controlled house and a divided senate, and work to get it done. and if the president acts in this spirit, i have no doubt he'll have the support of his own party and a willing partner

that divided government has sometimes done very important things for the country. think of ronald reagan and tip o'neill reforming social security. ron reagan and tip o'neill during the current tax reform. bill clinton and the republican congress doing welfare reform and balancing the budget. we look forward to making this divided government productive for the american people, and we have, as everyone knows, a lot of challenges at the end of the year. i will be meeting with the president and the other leadership on friday to talk about the way forward. we look forward to being a part of the solution to the significant problems. it is my pleasure to turn to our newly elected whip, senator john corn andyn of texas. >> -- senator john cornyn of texas. >> is an honor to serve as the assistant leader on the republican side. we have a lot of very difficult work to do, but we are committed to working with our colleagues across the aisle to solve the nation's urgent problems. we know what those are in the lame duck and we know what those are going forward. there is no mystery about that, nor is

, stagflation. in 1980, a very, very different president got elected. ronald reagan like barack obama inherited a struggling economy. and reagan implemented policies 180 degrees opposite those of obama. instead of jacking up taxes, he slashed taxes. instead of exploding spending and the debt, he restrained the growth of spending and instead of unleashing the hounds of regulators, by the way, when i think of regulators, i can't help thinking of mr. burns saying "release the hounds!" [laughter] >> instead of releasing the hounds of regulators on small businesses and entrepreneurs, reagan limited regulation and the result was one of the most extraordinary bursts of economic productivity our nation has ever seen. the fourth year of reagan's presidency was 1984, the same as the fourth year of obama's presidency. anyone know what g.d.p. growth was in 1984, 7.2%. our ideas work. their ideas don't. if you want growth, if you want jobs. if you want the 23 million people struggling to find work to get jobs, the answer is simple. you need growth and to get growth, you got to reduce and simplify the tax bu

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